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Rite Aid Corp. was downgraded to neutral from outperform at Credit Suisse, and the price target lowered to $9 from $10 after the drugstore chain agreed earlier this week to be acquired by Walgreens Boots Alliance . Credit Suisse expects the transaction to close and believes the deal is a positive for both companies. However, the bank believes that purchasing Rite Aid now will only yield a fixed return. “The stock has essentially become an arb play as opposed to a fundamental story and we expect it to be range bound for some time, as the deal could take close to a year to close.” Rite Aid shares are up 30.4% for the week so far. The S&P is up 0.7% for the same period.

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From:: Stock Market News

Specialty glass company Corning Inc. said Thursday it has entered an accelerated share buyback agreement with Morgan Stanley & Co. LLC, under which it will repurchase $1.25 billion of its own stock. The company is expecting an initial delivery of about 53.1 million shares based on current prices. The deal is expected to be completed in the first quarter of 2016 and to be financed with cash on hand. Corning stock was up 0.9% in premarket trade, but is down 18% in the year to date, while the S&P 500 has gained 1.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

GoPro shares were down 19% Thursday morning after weaker than expected third-quarter results prompted a downgrade from Piper Jaffray. Piper Jaffray downgraded GoPro to underweight from neutra and lowered their price target to $20 from $25. Piper Jaffray analysts cited GoPro’s high inventory and third-quarter sales miss, as well as lower sales guidance as reasons for the downgrade. They note that customer demand for the products appears to be dropping, which causes them to cast suspicion on GoPro’s ability to meet its fourth quarter $500 to $550 sales guidance and earnings per share of 35 to 45 cents.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

ConocoPhillips reported on Thursday a third-quarter loss of $1.1 billion, or 8 cents a share, compared with a profit of $2.7 billion, or $2.17 a share, in the same period a year ago. Excluding non-recurring items, such as the termination of a rig contract, a pension settlement and restructuring costs, the per-share loss came to 38 cents, wider than the FactSet consensus for losses per share of 37 cents. The oil exploration and production company said production for the quarter was 1,554 million barrels oil equivalent per day, above the FactSet consensus of 1,474 MBOED. For the fourth quarter, the company expects 1,585 MBOED to 1,625 MBOED, compared with the FactSet consensus of 1,587. The company cut its 2015 capital expenditure outlook to $10.2 billion from $11 billion to $11.5 billion, and its operating cost outlook to $8.2 billion from $8.9 billion to $9.2 billion. The stock, which was still inactive in premarket trade, has dropped 23% year to date while the S&P 500 has gained 1.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Time Warner Cable Inc. said on Thursday third-quarter profit slipped to $437 million, or $1.53 a share, down from $499 million, or $1.76 a share, in the year-ago period. On an adjusted basis, earnings fell 13% to $1.62 a share from $1.85 last year. Revenue rose 3.6% to $5.92 billion compared with $5.71 billion in the year-ago period. Analysts surveyed by FactSet estimated adjusted earnings of $1.55 a share on revenue of $5.96 billion. Shares of Time Warner Cable were unchanged ahead of the bell.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Bland white walls and a wallpaper-averse landlord inspire a young couple to harness their color and fiber-arts know-how …read more

From:: DIY this old house

A fun autumn DIY using chalk paint from The Snug …read more

From:: DIY this old house

This Old House plumbing and heating expert Richard Trethewey replaces a clogged shower valve that would not allow hot water into the shower …read more

From:: DIY this old house

Drug majors Pfizer Inc. and Allergan PLC are in talks to combine, in what would be the biggest takeover in a year, according to The Wall Street Journal. Citing people familiar with the matter, the Journal said Pfizer recently approached Allergan about a merger deal, although one of the sources added the process is still in an early stage and may not end in tie-up. If a deal is struck, antiwrinkle treatment Botox and dry-eye treatment Restasis would be under the same roof as Pfizer’s range of patent-protected medicines. Shares of Allergan jumped 15% ahead of the bell, while Pfizer rose 1.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Deutsche Bank AG said on Thursday it will cut about 9,000 jobs and end operations in 10 countries, according to media reports. The bank also said it will cut its number of investment clients and markets business by 50%. The job cuts come after the bank, Germany’s largest lender, earlier on Thursday posted a 6 billion euro ($6.6 billion) loss for the third quarter, which was in line with its recent profit warning. During the quarter, the bank wrote down the value of key investment-banking and other assets amid a deep restructuring, citing tougher regulatory requirements. Shares of Deutsche Bank erased earlier gains and dropped 0.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News